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 A summary of the career paths available to MBAs.(ZT) post-MBAs no need to waste the time! |
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八袋长老
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头衔: 海归中将
声望: 院士
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加入时间: 2005/02/03
文章: 6961
来自: 大陆到小陆
海归分: 601515
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作者：八袋长老 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
For applicants, identifying relevant and logical career goals are one of the most important decisions you have to make in you application process. Many, like me, do not even have an idea what are the options open to MBAs, let alone decide on one before even starting B-school. To help you make informed decisions, I am posting a summary of the career paths available to MBAs.
They include:
-Consulting
-Investment Banking
-Coporate Finance
-General Management
-Marketing
-Operations Management
-Entreprenureship
-High-tech
-Venture Capital
Consulting Overview
Consulting has long been one of the "high powered" career options available to business school students. The number of UMBS graduates accepting offers in the consulting field has increased as demand and salaries have risen. While financial consideration might drive students’ desire to join the consulting ranks, there is also some sense that this field will prepare the student for something else "down the road".
Some students do not want to shut the door on other possibilities and consider consulting because they believe the experience gained will be useful regardless of their future career path. While there are definite advantages to a consulting career, it may not be the best choice for everyone. A solid understanding (self-assessment) of one’s own interests, skills and values is particularly important for students considering consulting. This information, combined with a thorough knowledge of the industry, will help you decide if consulting is the right path to follow for success and satisfaction.
Why do companies hire consultants?
Companies use consultants for a variety of reasons. One reason is that senior management wants an objective viewpoint to a situation facing the company. External consultants can bring a degree of objectivity to a situation, which may be politically impossible within the corporation. Experienced consultants also offer a great deal of expertise gained through years of solving similar business challenges. In addition, because of their independence, consultants can often get information from customers and other external contacts that would not be available directly to the company. Finally, many companies do not have the internal human resources to devote to a time-consuming problem.
The Consulting Process
The consulting process is essentially team-based problem solving. The typical size of a consulting engagement team is five to fifteen people. The first step is to research the situation faced by the client in order to uncover the real problem. A novice consultant conducts industry research, internal data collection, client and customer interviewing, and competitive analysis. This data is analyzed and the problem is defined； delineating between symptoms and underlying problems is a key task at this stage. Next, possible solutions to the problem are analyzed in light of the capabilities of the company. The recommendations are then presented to senior management. Increasingly, clients are retaining consulting firms to assist in implementing their recommendations. As a consultant, you will define, create, review, or enhance your client’s organizational programs and procedures, offering ideas based on your own experience. By providing objective viewpoints, reviewing management directives, critiquing business plans, or supplementing the skill of the client’s staff, you will advise and recommend a course of action.
A special note for students interested in Information Management Consulting: the specific goal of information technology consulting is to create a competitive advantage through the use of computer systems. This is done primarily through:
•； Providing better information to decision makers (Executive Information Systems, Cost Systems)
•； Automating processes to cut costs, increase efficiency, etc. (A/P, A/R, General Ledger)
Investment Banking /Sales and Trading
The business of most large investment banks can generally be divided into two categories: Investment Banking (sometimes referred to as Corporate Finance) and Sales & Trading. Investment Banking divisions are involved in capital raising, financial advisory services (including mergers and acquisitions) and merchant banking activities, while Sales & Trading divisions engage in the brokerage and distribution of securities. Investment banks generally work with four client groups: corporations, municipalities (governments, hospitals, universities, etc.), financial institutions (insurance companies, money managers, venture capital and LBO firms, banks, etc.), and wealthy individuals.
Even though many commercial banks now provide both commercial and investment banking services, many investment bankers consider themselves and their industry to be very different from commercial bankers and the commercial banking industry.
Sales & Trading
Individuals working in a sales & trading department of an investment bank are not investment bankers, nor do they work in investment banking. Instead, they are either sales brokers or traders who work in sales & trading. There is a division or "Chinese Wall" between these areas, where information flow is minimized to promote and protect propriety in business operations. The individuals in each of these two areas generally have different skill sets, career goals, and personalities. Knowing which area you are interested in will help you focus your job search more effectively.
Before you make the decision to pursue the industry, you should understand the associate role, the skills and interests required, and the lifestyle and work environment.
Professionals in investment banking are oriented strongly toward analysis and enterprise control rather than managing people. They enjoy abstract financial analysis and the ownership of the "real" process. Almost all recruiters look for the following specific qualities:
- strong analytical and quantitative skills
- assertive and entrepreneurial nature
- ability to learn, think, and react quickly
- keen attention to detail
- strong familiarity with business computer applications, particularly Excel
- ability to work well in a team environment
- strong interest in finance, accounting, and corporate strategy
- ability to read, understand, and use financial statements
knowledge of industry trends, history, and the major participants
Recruiters also want people who have high stamina levels and a hunger for learning, and who are confident, poised, energetic, and willing to make personal sacrifices.
The investment banking work environment is often described as fast-paced, stressful, competitive, cutthroat, and generally unbearable. It has also been described as collegial, cooperative, friendly, and enjoyable. Why the contradictions? The reason is that the work environment, lifestyle, and expectations can differ substantially from bank to bank, and even from group to group within a bank. There are too many uncontrollable factors involved to make a consistently accurate generalization. However, it is well known that 80 to 100 hour workweeks are common, with more time required during crucial periods. Based on this estimate, obvious lifestyle sacrifices are part of this career choice.
On the plus side, a career at an investment bank will expose you tremendous knowledge about corporate finance and the financial markets, challenge you to take on significant responsibility, and allow you to gain an arsenal of skills that are valuable in a variety of different business settings.
Investment banking/sales and trading jobs generally pay larger total compensation packages for several reasons. First, the work environment is hectic and fast-paced. Second, there is constant stress and you will be required to work long hours, including weekends. Third, there are more risks in a career in investment banking. The success of the company, and ultimately your success, is based on the ability to generate business and keep clients satisfied. Finally, investment banks tend to "overhire" in good times and "overfire" in bad times.
The general career path for MBAs in investment banking is as follows:
- Associate (3-5 years)
- Vice-President (3-4 years)
- Director / Senior VP (3-4 years)
- Managing Director / Partner
Almost every MBA starts at the Associate level, where the emphasis is on financial analysis and valuation, "quarterbacking" the transaction process, and the development of new business. While the majority of associate opportunities are in New York, there are some opportunities to work in regional cities such as Chicago, San Francisco, and Los Angeles, as well as in international cities, such as London, Paris, Tokyo and Hong Kong.
Corporate Finance Overview
The term "Corporate Finance" is often used to describe two separate areas. The first is within commercial and investment banking. The corporate finance divisions of these banks serve the financial needs of corporate clients by providing financing, investing options and other services. Within a corporation, finance professionals work on a wide variety of projects which pertain to the financial needs of their firm, including all financial and cost analysis, internal audits and Treasury functions.
Corporate finance within a company may be characterized as a combination of cyclical work (i.e. budgeting) combined with project work. This excerpt focuses on the non-banking side of corporate finance.
There are certain interests common to individuals in finance, regardless of their particularly department or area. Solving problems using quantitative analysis is often dominates the profile of individuals in this field. Corporate financial mangers also enjoy managing projects form beginning to end, and managing people throughout the process.
Specific skills and interests sought by recruiters include:
Analytical/problem solving/quantitative
Leadership
Initiative/record of achievement
Interpersonal/team building
Assertiveness
Confidence
Maturity
A career in corporate finance often provides intellectual challenge in a fast-paced environment. Management of people and processes can be seen as rewarding, and the positioning of corporate finance within a company may be one of power or prestige. The pay scale for corporate finance jobs is very competitive, and upward advancement can lead to very senior level management within the firm. There may also be a greater sense of security in corporate finance versus Wall Street, and while long hours are the norm, travel is generally less than in other functional areas.
Once you've decided on corporate finance as your field of choice, you must decide on which environment is best for you. Corporate finance in banking will allow you to be more deal and reward oriented and will require more marketing and sales skills. Careers with large insurance companies require strong analytical and marketing skills. The job in a large corporation will require more accounting skills and lead you toward a career in general management. You need to understand the special nuances of each job and know what it takes to succeed in each.
MBA Career Opportunities
Financial Analyst
- Capital Budgeting: Evaluate capital proposals and lease vs. buy decisions by comparing discounted cash flows. (May consider whether to acquire a new piece of equipment, then decide whether to lease or buy).
- Budgets: Forecast revenue for annual budget and analyze the most recent monthly and quarterly performance against forecasts (look at actual results vs. projected, and determine reasons for variances).
- Projects: Complete projects for different functional areas of the company. (For example, doing a competitive analysis, analyzing the costs of certain component parts to decide whether it is better to manufacture them in house or to purchase them from outside, valuing a prospective acquisition, determining the feasibility of entering a new market, and locate the best price for a new product launch).
-Consumer Products: In this industry, a financial analyst may support one or more brands, providing financial support when a new product launch or promotion strategy is being considered.
Cost Analysis
- Manufacturing: Work in a plant or at least work closely with manufacturing to understand the costs of products and locate opportunities to reduce costs and improve processes. Also work closely with marketing on pricing decisions.
- Service: Usually works closely with marketing, determining the cost of providing a service and helping to make pricing decisions.
Treasury
- Financing: Assess the firm's funding needs and work with banks and capital markets (commercial paper, bonds, equity, etc.) to fill those needs.
- Investments: Determine how to invest the firm's excess funds.
- Foreign Currency: Monitor and manage the firm's foreign currency exposure.
Markting Overview
In recent years, even schools having strong marketing programs see a decline of students pursuing marketing career. One reason for the decline is the great demand for business graduates in consulting and investment banking, and the higher starting salaries in each of these professions. Marketing recruiters recognize the issues, and are attempting to attract students into their firms. One factor for students to consider is the long term potential for marketers. While starting salaries are lower, ascension into senior management ranks at consumer product companies can provide tremendous long term earning potential. Also, a marketing career path may be much less tied to overall economic or market conditions than the paths offered by consulting companies and investment banks. Students interested in consulting often hope to gain some experience working for a consulting firm, then pursue an entrepreneurial venture. The reality is that a marketing career, which requires many of the same skills and interests as consulting, may better prepare an individual for a future entrepreneurial experience. Understanding your long term career objectives (through research and self-assessment) may help clarify the advantages of each of these paths.
The Marketing Process
Whether working in consumer packaged goods, pharmaceuticals, high-tech, services, industrial or retail, a Product Manager uses general management and classic marketing skills to oversee the development of a product or service throughout various stages of its life cycle. Marketers develop strategic marketing plans that set positioning, pricing and strategic direction for products/services. They develop programs and initiatives to improve equity and increase profitability. Marketers are responsible for developing and implementing communication with partners and customers along the distribution channel. They manage through cross-functional relationships various internal and external departments, driving all in the process toward common marketing goals and objectives.
Profiles of Marketers
Regardless of the specific marketing position, there are some basic skills and interests that marketing professionals should possess. Marketers are managers who enjoy leading a process from start to finish. Marketing managers own their product or service and essentially run a small business, so entrepreneurial interest is a positive trait. Marketing professionals have higher creative interests than most operating managers, and are effective at communicating with various stakeholder groups in an organization. In addition, marketing careers call for a strong interest in management of people, as many marketing efforts are organized around teams.
Characteristics/Skills Required for Marketing
Leadership/Management: To lead and motivate people from different departments, and to consistently provide visionary creative leadership.
Analytical and Strategic-thinking: To sort through and identify critical data, to understand and correctly interpret it, and to apply it effectively to drive business growth.
Teamwork: Demonstrated ability to effectively work in teams.
Creativity/Innovation: To approach a problem from a different angle, to find a better way of doing things, and to generate unique ideas.
Communication: To support or defend a position or idea in a clear, concise, and persuasive manner.
Organizational/Time Management: To balance numerous projects and issues at one time, and to properly prioritize projects.
Additional Skills: Interpersonal, Enthusiasm
In addition, high-tech and industrial firms may look for candidates with either a technical background, or demonstrated ability to understand and learn technical concepts. Also, individuals interested in Market Research may need stronger analytical skills； they also work more independently than other marketers (less managerial responsibility).
Marketing professionals can expect a diverse, dynamic work experience, with new challenges emerging each day. Very few marketers describe their work as "boring" or "routine". Marketers should also expect a fast-paced, often stressful environment, with numerous internal and external pressures. While there may be seasonal fluctuations in workload, e.g. during marketing plan development, workweeks typically range from 50-70 hours. Travel is a definite job requirement, whether to a field sales office, manufacturing facility, customer account, advertising agency or to supervise local market research. The level of travel varies by industry and company, but expect anywhere from 10-50%.
There are numerous career paths available for individuals interested in marketing. Typical careers paths may follow one of several different functions:
Product (Brand) Management
Sales (especially entry level bachelor degree positions)
Market Research
Advertising
Marketing Opportunities:
Opportunities exist across different industries. Business school graduates have traditionally focused on careers in product (brand) management and advertising, but there is a wide array of marketing opportunities within organizations. Several traditional paths are outlined below:
Product Management: Most entry-level positions in consumer goods firms are at the Product Assistant and Product Associate level. The typical Product Management career path includes time spent at the Product/Brand Assistant level, the Product/Brand Associate level, with promotion to the Product/Brand Manager level after 2-4 years of total experience.
Specific entry level responsibility might include :
Conduct analysis, such as sales forecasts, business trends/share, competitive reporting, pricing, budgets and promotion effectiveness evaluation.
Execute projects, such as new product development, promotional programs and package/design change. May provide creative input on projects.
Interact and provide service to other departments (especially Field Sales).
Understand key issues and marketing opportunities for the product or service, including thorough knowledge of marketing plan and objectives.
Entry level jobs may focus on market research, with analysis of consumer needs and behavior, competitive activity and advertising effectiveness/spend levels.
More senior level product management jobs include management of multiple products and brand groups. Work at this level becomes more strategic and long-term in scope, with less actual execution of plans. Relationship building is crucial at more senior levels, including relationships with advertising agency partners, key customer account executives and other operating units (e.g. Operations).
Market Research: The market research function typically performs a great deal of the analysis work that goes into successfully marketing a product or service. Market researchers are responsible for identifying consumer insights and behaviors, studying competitors, segmenting target markets, and calculating the optimal price and level of advertising and promotions. A strong analytical focus is required as much of the work involves utilizing marketing models and frameworks. Market research opportunities exist across all industries, as ...[Message truncated]
General Management Careers
General Management is an admittedly vague term. It relates more to a type of responsibility than to a functional expertise. To clarify, a General Management position must include:
profit/loss responsibility (results must be quantifiable)
responsibility for multiple functions (finance, marketing, etc.)
Based on the above requirements, General Managers are typically executives in line roles. Executives in staff functions or within a single functional focus are not considered General Managers. Due to the level of responsibility expected, employers rarely hire a business school graduate immediately into a General Management position. Most employers, however, are hoping to hire potential General Managers.
There are two main ways for a student to search for a career in General Management. The first is to focus on a functional specialty for an initial position, and then segue into a General Management role as your experience develops. Any of the functions commonly sought by recruiters ? finance, marketing, operations ? can lead to a General Management career. If this is an interest of yours, begin with the handout on the specific function you are interested in initially. As you research potential employers, explore the amount of flexibility they offer for you to later manage in other functions. Many organizations are simply looking for talent ? if you perform at your initial function, they are happy for you to move to other areas of the company as your level of responsibility grows. Here, you need to be particularly proactive throughout your career about defining the type of General Management position you seek.
The other way to embark toward a General Management career is by entering a General Management Development Program (GMDP). GMDPs have been growing in popularity within firms and with students on campus. In this case, companies are looking to hire graduates with great potential, expose them to the company, and later promote them into General Management.
This guide will focus on GMDPs. There is a common misconception that these development programs are primarily all very similar. On the contrary, these programs are not all alike and it is more accurate to say they are all different in some way.
General Management Development Programs
Types of Programs
People often refer to Management/Leadership Development Programs (MDPs/LDPs) as General Management (GM) programs. This is often not the case； although many definitions for General Management exist, GM is a specific career focus just as Finance, Marketing, and Operations. Many LDPs are not intended to build GM skills, but aim to develop high level managers with significant experience within a single function. Both functional and General Management development programs can be found in multiple industries, and are found on campus in telecom, manufacturing, and banking environments.
Most of the development programs are rotational in nature, last from one to three years, and can encompass up to several rotations of varying lengths. The rotations are designed to provide exposure to different functional and/or business units within the firm and to provide opportunities to build your transferable and functional skills.
Why the Programs Exist
Due to business growth and management turnover, many firms with GMDPs have realized the need to more rapidly develop specific skill sets to meet their staffing demands. They see the GMDPs as a concentrated effort to develop the talent needed to continue to meet the leadership demands of the firm. Additionally, some firms have only recently hired large volumes of MBAs to augment the traditionally technical background of the majority of management (e.g. telecom and manufacturing). These firms view MBAs as having a solid business foundation on which to build additional business and technical skills. The bottom line is that these programs are generally in place to help high potential MBAs quickly develop those skills critical to the future success of the firm. General Management programs are usually focused on developing Executive (Officer) level talent within a short time period.
Operations management Overview
Traditionally, the operations manager was considered to be plant management at a manufacturing organization. This is no longer true. There has been a marked increase in the number of operations people employed in the service sector, and many recent graduates of the Business School operations program have taken jobs in consulting.
Career Search Step #1: Conduct Self-Assessment
Based upon CareerLeader, operations managers have high interest in application of technology, quantitative analysis and enterprise control. Like Sales Managers and Marketing Managers, Production and Operations managers often enjoy leading people. They have an engineering-like approach to business problems evidenced by their interest in application of technology and quantitative analysis. Their very high enterprise control score illustrates the fact that they like to "own a process."
Several skills and attributes are important to success in the operations environment:
Technical knowledge (understanding of systems and engineering processes).
Strong interpersonal skills (the ability to work effectively with and through other people).
Leadership.
General business knowledge (multi-disciplinary).
Strong analytical/problem solving abilities (creativity).
A career in operations management in a corporate setting can potentially mean a more balanced lifestyle than in a consulting environment. Although it should be noted that corporate manufacturing problems may disrupt personal plans, there is significantly less travel and potentially fewer hours involved in a corporate setting. One lifestyle note worth mentioning: operations management assignments are often at manufacturing plant facilities. Upward promotion may require relocation to other plants throughout a career.
Operations management in a corporate setting is not as lucrative as other fields business students may pursue, but there is a (relative) degree of security. A career in this field can also provide a great deal of variety, power and influence.
Career Search Step #2: Investigate Possible Career Opportunities
MBA Career Opportunities:
Operations management offers excellent career potential in the short and long term. It is unlikely, however, that you will be able to come into a position of significant authority immediately out of school. Companies must trust the judgment of their high-level line managers, positions gained after several years of experience. Movement in an operations function can be very rapid, however, if performance is strong. If you feel that line operations management is where you would like to make a career, you may want to consider looking for a staff job in the short term while you learn the industry and the company. This allows you to successfully establish your credibility and qualifications.
Operations jobs are not limited to managing a production line in a factory. Other operations management jobs include:
Operations management consulting
Internal auditing groups
Operations strategy
Distribution and logistics planning
Inventory planning and control
Supply chain management
Business process improvement or reengineering
Strategic planning
Hi-Tech Overview
Hi-tech careers which business school graduates pursue typically fall into two areas: technical marketing and technology consulting which includes information systems development positions. Hi-tech industrial marketing companies sell products that are different in nature from those sold by consumer marketing firms. The consumers targeted by industrial marketing are interested in raw materials, component parts, capital equipment, supplies and specialized services. Relationship management is also a key to industrial marketing efforts.
Most decisions in business-to-business marketing are made based on past performance, knowledge of the firm and its products and personal relationships. Understanding how to add value to industrial products is key to successful marketing efforts. Also, building partnerships and alliances with competitors and customers is another part of the industrial marketing process.
The goal of information technology consulting is to create a competitive advantage through the use of computer systems. This is done primarily through providing better information to decision makers via systems such as Executive Information Systems and Cost Systems. Consulting is also geared toward automating processes to cut costs, increase efficiency, etc. (A/P, A/R, General Ledger).
The process of a typical IT consulting engagement includes the following phases:
•； Examination of a business problem (not shipping goods to customers on time, large backorders)
•； Evaluate processes causing the problem (planning/production process, distribution process)
•； Prepare a business solution and alternatives, feasibility, etc. (distribution control system to be implemented)
•； Design the systems solution (define user requirements)
•； Implement the system (programming, coordinating modules)
•； Testing the system
•； Support of the system (training, transition)
Demand for IS professionals is high and continues to increase. What is needed are professionals who can skillfully analyze and design computer-based information systems. Major employers include firms specializing in information systems consulting and also manufacturing and service organizations.
Career Search Step #1: Conduct Self-Assessment
For MBA hi-tech positions, firms usually prefer an undergraduate degree or experience in a "technical" field (i.e. engineering, computer science). Most companies will not require that you are an engineer but if you are, you have an advantage. Companies that do require a technical background will usually be specific about it.
Other important skills include:
Excellent communication skills are a must (written and oral)
Strong analytical skills
Experience in negotiation preferred
Execution/decision making skills
For all candidates, recruiting firms are interested in your accomplishments－－you need to show the
impact of actions that you have taken. You need to have demonstrated logical thinking skills, and show self-directed work accomplishments. It is important that you are able to make positive change happen. In lieu of technical work experience, you need to be able to learn new technologies easily and transfer that knowledge into business solutions.
Career Search Step #2: Investigate Possible Career Opportunities
MBA Career Opportunities
In high tech marketing, rotational assignments are common, geared to give a broad exposure to the company/business. These assignments vary between strategy, business research, sales, market research and assistant marketing/product management. The purpose of these programs is to develop the essential general management skills needed to succeed in industrial marketing.
Product managers will usually have profit & loss responsibility (probably without the needed authority). It is the product manager's responsibility to coordinate and harmonize the company’s presence in the field. It is unusual for industrial companies to have predetermined career paths. Most learning comes on the job and career growth usually comes from involvement in special projects.
Information technology firms can vary in size from a large accounting firm to very small,
independent consultants. The larger firms typically are partnerships, which typically include the
levels of:
Staff Consultant (0-2/3 years) - program, test, design
Senior Consultant (2/3-5 years) - detailed design, supervise modules
Manager (5-11 years) - design overall project strategy, run day-to-day operations
Partner - sell projects, solve initial business problems
Entrepreneurial Overview
Although an entrepreneurial career does not typically begin immediately upon graduating from the Business School, it is certainly becoming a more popular path for many individuals with specialized industry knowledge. Keys to success include a well-formulated product strategy, capital and a great deal of energy. While companies recruiting on campus are not the traditional target for those interested in pursuing an entrepreneurial career, they are a great resource and applied training ground for building industry knowledge before launching an entrepreneurial effort.
Career Search Step #1: Conduct Self-Assessment
Based upon the professionals surveyed via Discovering Your Career in Business, entrepreneurs tend to be very interested in enterprise control, have moderately high quantitative analysis scores, and also show strength in creative production. Entrepreneurs are more interested in strategic vision than in day to day management. They like finance, and want to "own a process" as well as influence others.
Career Search Step #2: Investigate Possible Career Opportunities
Unless an extraordinary idea is already on the drawing table and contacts for financing are lined up (very unlikely), the best path to entrepreneurism is through an initial work stint. Most successful entrepreneurs have previously worked and acquired experience in the same industry that they are now established in as entrepreneurs.
It is important to choose a field in which you have distinct strengths and clear interests. Let your employer facilitate development of your knowledge base before branching out on your own. Develop credibility within your area of functional expertise in order to convince future debt and equity holders that you are a low-risk entity. Make sure you are knowledgeable of the necessary financing and develop contacts for future success.
Career Search Step #3: Research Employers
There are many companies that recruit at the University of Michigan Business School, which can be considered small businesses. However, most of these companies are located in the Michigan or Midwest regions. If you have an interest in small business outside of the area, an off-campus search will most likely be necessary. Nevertheless, there are still a tremendous number of resources available at the business school. Very often faculty have contacts outside the area. Kresge Library’s reference section is also very well stocked with industry directories and databases for companies all over the country and around the world. These directories usually list companies by region and identify plenty of contacts within these companies.
Career Search Step #4: Develop a Career Search Strategy
If an entrepreneurial career is your primary interest, take advantage of the resources at school while you are here. There are tremendous contacts to make, education to obtain, and advice to solicit.
Talk with faculty members about small business contacts that they may have outside the area
Check the library’s reference section
Utilize the best source of information for job connections －－ the alumni network. M-track, the library, and the alumni office all contain valuable information for alumni contacts
Venture Capital Overview
While Finance and Venture Capital are distinctly different careers, they require a similar background with high levels of financial knowledge and general business acumen. Venture capital is often a second career begun after a successful career in management or finance. Most venture capitalists do not become such until they have gained the necessary skills and experience in finance.
Unlike investment banking, which is a transaction business done for fees, venture is a principal business done primarily for capital appreciation from funds invested. Venture capitalists, when they hire, expect extremely high achievement and potential from their new hires. Candidates are expected to be well versed not only in finance, but also in marketing, manufacturing, corporate strategy, and the latest technology in a multitude of industries. The venture capital associate must be multi-faceted because profitable investments cannot be made without comprehensive assessment of the firms being considered.
Skills Required
Individuals successful in this field have a strong desire to "own" a process from beginning to end. They like to take control and be in charge. Like other finance professionals, they have a strong interest in quantitative analysis. Specific skills/attributes required include:
-Strong communication abilities
-Networking capabilities and contacts
-Analytical strength
-Action and results-oriented
-Motivated and confident
-Creative problem solving abilities
A career in venture capital/private equity investing can lead to great financial rewards. Initial salaries may be low, but the potential upside, based on returns on successful investments, is extremely high for these financial entrepreneurs. However, higher risk and uncertainty about earnings potential are also part of the equation. Opportunities in this area may allow for more autonomy than in other financial services fields； and success can lead to positions with significant levels of influence.
Possible Career Opportunities
Entry positions are at the Associate level, with upward opportunity based on results. Most venture capital firms are partnerships, and it is expected that Associates eventually contribute at a higher level and become partners.
Venture Capital Overview
While Finance and Venture Capital are distinctly different careers, they require a similar background with high levels of financial knowledge and general business acumen. Venture capital is often a second career begun after a successful career in management or finance. Most venture capitalists do not become such until they have gained the necessary skills and experience in finance.
Unlike investment banking, which is a transaction business done for fees, venture is a principal business done primarily for capital appreciation from funds invested. Venture capitalists, when they hire, expect extremely high achievement and potential from their new hires. Candidates are expected to be well versed not only in finance, but also in marketing, manufacturing, corporate strategy, and the latest technology in a multitude of industries. The venture capital associate must be multi-faceted because profitable investments cannot be made without comprehensive assessment of the firms being considered.
Skills Required
Individuals successful in this field have a strong desire to "own" a process from beginning to end. They like to take control and be in charge. Like other finance professionals, they have a strong interest in quantitative analysis. Specific skills/attributes required include:
-Strong communication abilities
-Networking capabilities and contacts
-Analytical strength
-Action and results-oriented
-Motivated and confident
-Creative problem solving abilities
A career in venture capital/private equity investing can lead to great financial rewards. Initial salaries may be low, but the potential upside, based on returns on successful investments, is extremely high for these financial entrepreneurs. However, higher risk and uncertainty about earnings potential are also part of the equation. Opportunities in this area may allow for more autonomy than in other financial services fields； and success can lead to positions with significant levels of influence.
Possible Career Opportunities
Entry positions are at the Associate level, with upward opportunity based on results. Most venture capital firms are partnerships, and it is expected that Associates eventually contribute at a higher level and become partners.
作者：八袋长老 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 A summary of the career paths available to MBAs.(ZT) post-MBAs no need to waste the time! -- 八袋长老 - (40059 Byte) 2005-9-10 周六, 18:11 (1106 reads)
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